Cyber warfare isn't just an issue reserved for government worry. It's also a problem facing the billions of people worldwide that count on digital technology for everything from personal shopping, web surfing, military applications, business operations, and everything in between and after.
Citing just those targets minimizes the magnitude of how severe and consequential cyber-attacks can be and to whom. Noting it can wipe out billions of dollars of financial value in seconds and disrupt municipalities' ability to serve its residents, the better way to describe cyber-crime is that its potential to wreak havoc on a local, state, and global scale is a significant and present danger.
Frankly, more than potential danger, it's a real-time issue affecting millions of people per day in one form or another. The most prolific attack includes ransomware, and with the speed at which these ransomware attacks mutate to defeat patched-up security walls, those not taking the initiative to update their defenses may suffer significant and irrevocable damage.
But while the headlines are alarming, it's not all doom and gloom; there are ways to set up a formidable defense. Publicly-traded CISO Global (NASDAQ: CISO) provides and educates its clients on defeating these attacks and providing the tools necessary to strengthen firewalls and keep intruders safe from their assets.
Creating A Culture Around Cybersecurity
By introducing cybersecurity as a culture, not a product, CISO Global has the right solutions at the right time to wage a formidable battle against these unrelenting attacks. They're timely to its opportunities. Over the past several years, millions of computers have been taken over by ransomware, which encrypts a user's files and then demands a ransom to restore access. But here's the bigger problem. Not only is it unlikely that paying this ransom will resolve the situation in the long term, but a refusal often results in the hacker threatening to expose the victim's personal data and browsing history to the world.
Moreover, as cybercrime becomes more prevalent, especially with AI-based social engineering and brute force attacks, no one and no system is immune from the potentially devastating and costly results of ransomware. True, companies can implement a program, hire an IT team to develop code, and even create entire divisions to combat cybercrime, then tout their integration as a one-time fix-all to an evolving threat. Yes, it appeases company leaders, its BOD, and investors. But, the truth is that a set of products and technology implemented in 2023 will have little effect against an attack in 2024. That's the reason products lose to culture when it comes to fighting cybercrime.
The latter is what CISO emphasizes. They have products - lots of them. However, CISO emphasizes something more powerful: creating a culture that understands the issues and develops long-lasting resources and solutions to win fights on the digital battleground. And there's plenty to battle, with statistics indicating a 485% surge in ransomware attacks in 2022. These attacks often, if not always, result in significant financial losses, operational disruptions, reputational damage, and compromised customer data. While the surge in attacks is alarming, consider this.
CISO Provides A Cohesive, Company-Specific Cybersecurity Package
As businesses become increasingly interconnected, cybercriminals can capitalize on vulnerabilities to infiltrate networks and hold critical data hostage. Remember, there is no one-size-fits-all approach to cybersecurity. Thus, when businesses combine, security gaps emerge as systems can't fully synchronize to provide a complete layer of protection.
In other words, while some measures and technology can plug into each other, many can't. And if one of the companies uses dated technology, the even worse news is that they'll need to start from scratch to create a formidable defense. Remember, like versions of the iPhone (NASDAQ: AAPL), or products from Microsoft (NASDAQ: MSFT) and Intel (NASDAQ: INTC), two years later, the technology is second best and certainly not cutting edge. That matters. Why?
Because fighting an evolving battle requires having the latest and greatest technology. Remember, the impact of ransomware and cyber attacks is far-reaching, and the costs associated with paying and defending against it trickle down to consumer prices. Even if not directly attacked, everyone in the supply chain, including the final purchase, pays the price.
Changing A Cybersecurity Mindset
The excellent news is that times are changing. While improved security and resources are helpful, companies like CISO Global are pioneering a new mentality in protecting against cybercrime by reshaping the concept of cybersecurity from a purely product-based approach to an ingrained cultural mindset.
While CISO Global can provide its customers plug-and-play solutions, it's generally not something they would or want to do. That's not to say revenue recognition isn't a top priority - it most certainly is, according to its updates. But saying that's something they generally wouldn't do is based on CISO's mission to partner with its clients to establish a culture of cybersecurity that benefits operations and creates long-term relationships.
Creating a plan - a culture, so to speak, isn't necessarily difficult to do. And many companies are embracing the CISO Global approach and are amenable to the rigorous Q&A involved in CISO assessing each client-specific situation and need. Delving deep into a company allows CISO to identify vulnerabilities and, only then, develop client-specific frameworks that consider the risks associated with policies, procedures, and operations specific to the client's professional and industry requirements. Furthermore, CISO emphasizes its technology less than the need to cultivate a security-conscious workforce that understands the value of proactive defense against ransomware threats.
It starts with education, which is at the heart of CISO Global's mission to combat ransomware. They engage that mission through workshops, seminars, and training programs designed to empower businesses to understand the evolving tactics employed by cybercriminals and the measures they can take to fortify their defenses. The takeaway is usually the same from these events: by educating attendees and providing a deep understanding of ransomware and its implications, CISO Global is sending people out the door with the knowledge to be proactive rather than reactive in the face of cyber threats.
A Value Proposition Worth Seizing
But know that CISO doesn't just send them on their way. They provide an offering combining education and best-in-industry products designed to protect the client and, as a result, steepen the growth trajectory for itself. That's a win-win proposition for CISO clients and CISO investors. Still, understand the fundamental strength- CISO Global is more than a teacher; they provide enormous technology resources that enable companies to substantially strengthen their security posture.
As important, there's no gap in coverage; CISO offers cutting-edge technologies to enhance threat intelligence, incident response plans, and continuous monitoring. Once equipped with comprehensive CISO product and plan excellence, client companies are undoubtedly better prepared than ever to mitigate ransomware risk and stay protected well after the next technological advancement cycle.
But here's the best news from an investor's perspective: The CISO Global of today is likely to get much larger, with industry consolidation allowing smaller players like CISO to become larger faster. That potential shift to larger could happen sooner than later, resulting from CISO being at the forefront of the cybersecurity industry transformation with industry-best products that can lead to joining forces with other sector players through strategic partnerships, licensing, and acquisitions.
It's been said; knowledge is power. CISO has both. And with an asset portfolio that has significantly more intrinsic value than what its share price presents, more likely than not, the path of least resistance for CISO shares is higher. Better still, appreciably so.
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